Swiggy raises $1 billion in funding round, led by the internet group Naspers

Naspers said in a statement it had invested $660 million in Swiggy during this latest round

Online food delivery company Swiggy said it had raised $1 billion in its latest funding round, led by South African internet group Naspers Ltd.

China’s Tencent Holdings Ltd, Hillhouse Capital and Wellington Management Company also took part in the funding round, together with Swiggy’s existing investors, DST Global, Meituan Dianping and Coatue Management, Swiggy said.

Naspers said in a statement it had invested $660 million in Swiggy during this latest round.

Swiggy logo on a delivery partner.

Swiggy, based in the southern Indian tech hub of Bengaluru, is valued at a little over $3 billion after this funding round, a source familiar with the matter told Reuters.

The company did not respond to an email seeking comment on the valuation.

Naspers said its Swiggy investment showed it was committed to India across multiple sectors.

“Indian online consumers will be a significant driver of online growth in the world,” it said.